Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data June Beginning work in process units 0 Units started into production 22,660 Ending work in process units 2,060 Percent complete—ending inventory 40 % Cost Data Materials $203,940 Labor 55,208 Overhead 116,184 Total $375,332 Determine the costs to be assigned to the units transferred out and in process for June. Transferred out $enter a dollar amount Work in process, June 30 $enter a dollar amount Prepare a production cost report for the Molding Department for the month of June. ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2020 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, June 1 enter a number of units Started into production enter a number of units Total units enter a total number of units Units accounted for Transferred out enter a number of units enter a number of units enter a number of units Work in process, June 30 enter a number of units enter a number of units enter a number of units Total units enter a total number of units enter a total number of units enter a total number of units Costs Materials Conversion Costs Total Unit costs Total Costs $enter a dollar amount $enter a dollar amount $enter a total of the two previous amounts Equivalent units enter a number of units enter a number of units Unit costs $enter a dollar amount $enter a dollar amount $enter a total of the two previous amounts Costs to be accounted for Work in process, June 1 $enter a total amount Started into production enter a total amount Total costs $enter a total of the two previous amounts Cost Reconciliation Schedule Costs accounted for Transferred out $enter a total amount Work in process, June 30 Materials $enter a dollar amount Conversion costs enter a dollar amount enter a subtotal of the two previous amounts Total costs $enter a total amount for this Cost Reconciliation Schedule

Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data June Beginning work in process units 0 Units started into production 22,660 Ending work in process units 2,060 Percent complete—ending inventory 40 % Cost Data Materials $203,940 Labor 55,208 Overhead 116,184 Total $375,332 Determine the costs to be assigned to the units transferred out and in process for June. Transferred out $enter a dollar amount Work in process, June 30 $enter a dollar amount Prepare a production cost report for the Molding Department for the month of June. ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2020 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, June 1 enter a number of units Started into production enter a number of units Total units enter a total number of units Units accounted for Transferred out enter a number of units enter a number of units enter a number of units Work in process, June 30 enter a number of units enter a number of units enter a number of units Total units enter a total number of units enter a total number of units enter a total number of units Costs Materials Conversion Costs Total Unit costs Total Costs $enter a dollar amount $enter a dollar amount $enter a total of the two previous amounts Equivalent units enter a number of units enter a number of units Unit costs $enter a dollar amount $enter a dollar amount $enter a total of the two previous amounts Costs to be accounted for Work in process, June 1 $enter a total amount Started into production enter a total amount Total costs $enter a total of the two previous amounts Cost Reconciliation Schedule Costs accounted for Transferred out $enter a total amount Work in process, June 30 Materials $enter a dollar amount Conversion costs enter a dollar amount enter a subtotal of the two previous amounts Total costs $enter a total amount for this Cost Reconciliation Schedule

Name: Rosenthal Company manufactures bowling balls through two processes: Mo
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Production Data	June
Beginning work in process units	0
Units started into production	22,660
Ending work in process units	2,060
Percent complete—ending inventory	40	%

Cost Data
Materials		$203,940
Labor		55,208
Overhead		116,184
Total		$375,332

Determine the costs to be assigned to the units transferred out and in process for June.

Transferred out		$enter a dollar amount
Work in process, June 30		$enter a dollar amount

Prepare a production cost report for the Molding Department for the month of June.

ROSENTHAL COMPANY Molding Department Production Cost Report For the Month Ended June 30, 2020
		Equivalent Units
Quantities	Physical Units	Materials	Conversion Costs
Units to be accounted for
Work in process, June 1	enter a number of units
Started into production	enter a number of units
Total units	enter a total number of units

Units accounted for
Transferred out	enter a number of units	enter a number of units	enter a number of units
Work in process, June 30	enter a number of units	enter a number of units	enter a number of units
Total units	enter a total number of units	enter a total number of units	enter a total number of units

Costs		Materials	Conversion Costs	Total
Unit costs
Total Costs		$enter a dollar amount	$enter a dollar amount	$enter a total of the two previous amounts
Equivalent units		enter a number of units	enter a number of units
Unit costs		$enter a dollar amount	$enter a dollar amount	$enter a total of the two previous amounts

Costs to be accounted for
Work in process, June 1				$enter a total amount
Started into production				enter a total amount
Total costs				$enter a total of the two previous amounts

Cost Reconciliation Schedule
Costs accounted for
Transferred out				$enter a total amount
Work in process, June 30
Materials			$enter a dollar amount
Conversion costs			enter a dollar amount	enter a subtotal of the two previous amounts
Total costs				$enter a total amount for this Cost Reconciliation Schedule

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